OGE Energy Corporation (NYSE:OGE) Coverage Initiated by Analysts at Goldman Sachs Group, Inc. (The)

Goldman Sachs Group, Inc. (The) began coverage on shares of OGE Energy Corporation (NYSE:OGE) in a research note issued to investors on Thursday. The brokerage issued a neutral rating on the utilities provider’s stock.

OGE has been the subject of several other research reports. Zacks Investment Research downgraded OGE Energy Corporation from a buy rating to a hold rating in a research report on Thursday, March 23rd. Jefferies Group LLC reaffirmed a hold rating and set a $35.00 price target on shares of OGE Energy Corporation in a report on Monday, May 15th. Finally, BidaskClub cut OGE Energy Corporation from a hold rating to a sell rating in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $34.25.

Shares of OGE Energy Corporation (NYSE OGE) traded up 0.62% during trading on Thursday, hitting $35.42. The company’s stock had a trading volume of 579,058 shares. The company has a market capitalization of $7.07 billion, a P/E ratio of 20.36 and a beta of 0.88. OGE Energy Corporation has a 1-year low of $29.57 and a 1-year high of $37.41. The firm’s 50 day moving average is $35.20 and its 200-day moving average is $34.88.

OGE Energy Corporation (NYSE:OGE) last posted its earnings results on Thursday, May 4th. The utilities provider reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The business had revenue of $456 million during the quarter. OGE Energy Corporation had a return on equity of 10.22% and a net margin of 15.29%. OGE Energy Corporation’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.13 EPS. Analysts forecast that OGE Energy Corporation will post $1.96 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Monday, July 10th will be issued a dividend of $0.3025 per share. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $1.21 dividend on an annualized basis and a yield of 3.42%. OGE Energy Corporation’s dividend payout ratio is 69.54%.

Large investors have recently added to or reduced their stakes in the stock. Mercer Capital Advisers Inc. boosted its stake in OGE Energy Corporation by 0.7% in the first quarter. Mercer Capital Advisers Inc. now owns 7,013 shares of the utilities provider’s stock worth $245,000 after buying an additional 48 shares in the last quarter. Capstone Asset Management Co. boosted its stake in OGE Energy Corporation by 0.3% in the second quarter. Capstone Asset Management Co. now owns 18,899 shares of the utilities provider’s stock worth $657,000 after buying an additional 60 shares in the last quarter. Torch Wealth Management LLC boosted its stake in OGE Energy Corporation by 0.9% in the second quarter. Torch Wealth Management LLC now owns 8,391 shares of the utilities provider’s stock worth $292,000 after buying an additional 73 shares in the last quarter. Bank of Montreal Can boosted its stake in OGE Energy Corporation by 0.6% in the second quarter. Bank of Montreal Can now owns 17,806 shares of the utilities provider’s stock worth $619,000 after buying an additional 107 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in OGE Energy Corporation by 4.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,326 shares of the utilities provider’s stock worth $174,000 after buying an additional 207 shares in the last quarter. 61.94% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Corporation Company Profile

OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.